Should automated continuous audit be an initiative of Internal Audit function or part of Internal Controls of the concerned organizational department?

Internal audit itself is a part of the internal control mechanism. Whether the audit is continious or not and whether it is initiated by the internal audit function or not , it also serves the same pupose of being a part of the internal control process. With internal audit function in place , it is easier and appropriate to have the audit planned and executed and reported by this function. I beleive in cases where there is no internal audit available, the finance dept can institute some routine checks and balances in the internal control process to ensure things move the right way. I hope I was able to clear my point.

 

Internal audit function. Since the organizational department have the interest on bussines we cannot give the assurance.

S, its an check on overall activity of the organisation.